Overview

• European stocks advanced broadly, with the CAC 40 gaining 0.58% to 7,867.50 as Wall Street logged fresh record highs this week.
• U.S. weekly unemployment claims dropped to 221,000, underscoring persistent strength in the labor market.
• June retail sales rose by 0.6%, driven by automotive and general merchandise spending, reinforcing signs of consumer resilience.
• Investor forecasts for near-term Federal Reserve rate cuts have receded after firmer inflation readings and robust economic data, although Governor Christopher Waller’s proposal for a 25 basis-point cut in July is unlikely to secure FOMC support.
• Sanofi completed its acquisition of Blueprint Medicines to strengthen its rare immunological disease portfolio and advance its global immunology strategy.